LIVE: Watch "President Biden Delivers Remarks At United Steelworkers Headquarters In Pittsburgh — 4/17/2024"
Portfolio Pulse from Benzinga Newsdesk
President Biden is scheduled to deliver remarks at the United Steelworkers Headquarters in Pittsburgh on April 17, 2024. The event is expected to focus on labor issues, potentially impacting related stocks and ETFs.
April 17, 2024 | 6:32 pm
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POSITIVE IMPACT
United States Steel Corporation (X) could be directly impacted by President Biden's remarks, given the focus on labor and the steel industry's sensitivity to policy changes.
Given the setting at the United Steelworkers Headquarters and the potential for labor-related policy announcements, United States Steel Corporation (X) stands to be significantly impacted. Positive or supportive policies could boost investor confidence in X.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see short-term volatility around President Biden's remarks, especially if labor policies or economic measures are announced.
As a broad market ETF, SPY's performance is influenced by major economic and policy announcements. Biden's speech, focusing on labor, could introduce volatility depending on the specifics of the speech and market sentiment.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50